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Additional
social choice theory
English Wikipedia - The Free Encyclopedia
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Social choice theory
Social choice theory
or
social choice
is a
theoretical
framework for analysis of combining individual opinions, preferences, interests, or welfares to reach a
collective decision
or
social welfare
in some sense. A non-theoretical example of a collective decision is enacting a law or set of laws under a
constitution
. Social choice theory dates from
Condorcet
's formulation of the
voting paradox
.
Kenneth Arrow
's
Social Choice and Individual Values
(1951) and
Arrow's impossibility theorem
in it are generally acknowledged as the basis of the modern social choice theory. In addition to
Arrow's theorem
and the
voting paradox
, the
Gibbard-Satterthwaite theorem
, the
Condorcet jury theorem
, the
median voter theorem
, and
May's theorem
are among the more well known results from social choice theory.
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